World Business Briefing | Asia: Japan: NEC to Spin Off Its Internet Service Provider

Published: March 29, 2006

The NEC Corporation, Japan's largest maker of personal computers, will spin off its Internet service provider, Biglobe, and sell some shares in the unit to five companies, NEC said. The new company, NEC Biglobe, will be created in July and have about 4 billion yen ($34 million) in capital, NEC said. NEC Biglobe, 78 percent owned by NEC, intends to increase its sales to 100 billion yen by the year ending March 2009, from about 60 billion yen in the 12 months ended March 2005.